The Pioche weekly record. [volume] (Pioche, Nev.) 1877-1900, 1887-02-12
SENATE BILL NO. 80.

Section /. Whenever within five ~
years from the passage of this Act the
Nevada and Southwestern Railway Com,
pany, a corporation heretofore organized
and now existing under the general laws
of the State of Nevada, shall have con.
structed an iron railroad Of either narrow
or standard gauge, through the counties
of White Pine, Lincoln, Nye and Esmer.
aida, or either Of them, it shall be en-.
titled to receive from the county through
which it shall have completed such rail.
road the bonds Of such county to the ex.
tent of two thousand (S2, O00) dollars per
mile, in case the road shall DO a narrow
gauge, and three thousand 1873, 000) dol
lars per mile in case the road shall be a
standard gauge within such county.
Sec 2. immediately upon receipt by
the County Commissioners Of either of
said counties Of q sworn certificate from
County Surveyor Of their county, or of
such certificate from the Surveyor.Gen-
eral Of the State of Nevada, setting forth
thst such railroad, as herein mentioned,
has been completed, and the number of
miles thereof within such county, it
shall be the duty of the Board OF County
Commissioners Of said county and they
are hereby directed to Immediately take
such action as may be necessary to cause
to be prepared, to issue and to deliver the
bonds provided for in this Act to said
company.
Sec. 3. Said bonds shall bear interest
at the rate Of five t5) per cent. per an
mum, payable annually, and they shall
DO for the amount of five hundred $500
dollars, one thousand $1,000 dollars
and Eve thousand (s5 1000 dollars respec-
lively. They shall be printed with the
necessary interest coupons attached to
each, shall express upon the face of both
bonds and coupons that they are pay
able in lawful money Of the United
States, subject to the provisions and con-
ditions contained in this Act. Both
bonds and coupons shall DO payable to
bearer, and the interest thereon shall be
paid on the first day Of January subse-
qusnt to the issuance of such bonds, and
upon the first day of each January
thereafter until all interest payable spon
the same shall have been fully e1tin-
guished Both the interest and prin.
cipal of said bonds shall only be made by
the Treasurer Of the county from which
they may have been issued, at the time
and in accordance with the provisions Of
this Act.
Sec. 4. In each Of the counties from
which bonds may be issued under and
by virtue of this Act, there shall be an,
nually applied from the revenue Of such
county, to the payment Of the interest
and the principle Of the said bonds,
which shall have been issued by said
county, a sum of money equal in amount
to the sum which may be collected b,
said sounty from said Nevada and
Southwestern Railway Company from
the taxes lsvied upon the entire property
of said company in said county, less tn,
amount Of taxes which may have beer
levied on and collected therefrom fol-
State aud school purposes, and thu
amount SO applicable to the payment o
the interest and the redemption Of thu
principal of said bonds, shall be place.
in a separate fund, to be called tn,
Railroad Interest Sinking Fund,
which shall be applied first to the pay
ment Of the interest as herein directed
and, second, to the redemption Of tn
, principal of said bonds, as provided it
, this Act, it being the true intent ant
! meaning of this section of this Act tina
t the interest and principal Of all Of tn
bonds issued under the provisions of thi
| Act shall be paid only to the extent G
the revenue derived by the RESPECTIVE
z counties from the taxes upon the prof.
a srty of said railroad company, less tn
. amount realized by said counties, froi
/ the taxes levied for State and schot
= purposes.
" Sec. s. Said bonds shall be payab
Y at any time within twenty-five III
a years at the option Of the county is,uin
!. the same, and both the interest an
It principal shall be paid only as provide
o in this Act.
"a Sec. 6. The bonds issued under Il
provisions Of this Act shall be paid
follows: Whenever all interest dl
5, upon said bonds issued by the respect,
$, counties shall have been fully paid, AT
IT there shall remain in the Railroad Il
If terest and Sinking Fund Of either count
Or which has issued bonds under the pr
10 visions of this Act surplus Of tv
thousand $4,000 dollars or more, Il